The social market economy. Relevance in a globalized economy
The Soziale Marktwirtschaft has represented the backbone of the economic policy of the Federal Republic of Germany since the immediate post-war years. Indeed, the economic policies implemented by politicians such as Konrad Adenauer and Ludwig Erhard were explicitly guided by the ideas developed by a group of eminent economists and social thinkers, including Alfred Mueller-Armack, Wilhelm Roepke, Vera Lutz, Walter Eucken, and Erhard himself.